Fairfax India Holdings Corp, part of Canadian billionaire Prem Watsa's Fairfax Holdings, said it would invest US$300 million in privately held Indian petrochemical company Sanmar Chemicals Group through a combination of equity and fixed-income securities, Reuters reported. Fairfax India will have a 30 percent equity ownership in Sanmar following the investment. The deal would be the latest in a string of Fairfax investments in the country this year.
1 min read · 08 April 2016
Acquisitions in the utility sector and a major cross-border pipeline transaction helped drive the volume of Canadian M&A activity up 48 percent in the first quarter of 2016, even though the number of deals declined, Reuters reported. Thomson Reuters data released on Thursday showed the overall number of deals in the period fell 18 percent to 511 from a year earlier, while the deal value surged to US$67.9 billion from US$45.9 billion a year ago.
2 min read · 07 April 2016
Struggling teen apparel retailer Pacific Sunwear of California Inc (PSUN.O) filed for Chapter 11 bankruptcy protection on Thursday, succumbing to mounting losses and intense competition in the industry, Reuters News reported.
2 min read · 07 April 2016
Barry Diller's IAC/InterActiveCorp , which owns popular dating app Tinder, said it hired ex-Lehman Brothers investment banker Glenn Schiffman as its Chief Financial Officer, Reuters News reported.
1 min read · 07 April 2016
If 2015 was a dream year for Wall Street's top dealmakers, 2016 is starting to take a nightmarish turn, Reuters News reported.
4 min read · 07 April 2016
CalPERS is learning that social responsibility can be a drag. The $290 billion California pension manager may reinvest in tobacco stocks after a report found that exiting the sector cost it $3 billion of potential investment gains over 15 years. There’s more to the idea than higher returns, though. Engaging financially with controversial firms can be a better way to effect change, Reuters Breakingviews said.
2 min read · 06 April 2016
Swiss commodity miner and trader Glencore has agreed to sell 40 percent of its agricultural unit to Canada Pension Plan Investment Board for US$2.5 billion, the company's latest step to cut debt and soothe investor concerns about the impact of weak commodity prices, Reuters reported. The sale values the agricultural unit as a whole at close to the initially expected US$10 billion, including debt and inventories. Glencore expects the deal to close in the second half of 2016.
2 min read · 06 April 2016
Commodity miner and trader Glencore (GLEN.L) has agreed to sell 40 percent of its agricultural unit to Canada's state pension fund for $2.5 billion, the company's latest step to cut debt and soothe investor concerns about the impact of weak commodity prices, Reuters News reported.
2 min read · 06 April 2016
U.S. drugmaker Pfizer Inc and Ireland-based Allergan Plc formally announced that they were scrapping their $160 billion merger, marking a big win for President Barack Obama who has been pushing to curb tax-slashing "inversion" deals, Reuters News reported.
1 min read · 06 April 2016
(Reuters Breakingviews) Blackstone is betting that political shouting over American visas for foreign workers will come to nothing. The buyout group is offering up to $1.1 billion in cash for Mphasis, an Indian IT outsourcer. That looks brave at a time when most U.S. presidential candidates are touting restrictions to a controversial visa programme that is critical to the industry’s success.
2 min read · 05 April 2016
